Aluminium down by 0.4% on global cues

Low demand also affected prices

Aluminium prices were down 0.45% to Rs 100 per kg in futures trade today as investors offloaded positions amid weak global cues and muted demand at spot markets.

At the Multi Commodity Exchange, aluminium for delivery in January next year eased by 45 paise, or 0.45%, to Rs 100 per kg, in a business turnover of four lots.

Similarly, the metal for delivery this month was trading lower by 40 paise, or 0.40%, at Rs 99.15 per kg in 185 lots.

Marketmen said the fall in aluminium prices at futures trade was mostly in tune with a weak trend at London Metal Exchange as industrial metals retreated as investors refocused on poor demand, following gains made in the wake of the US Federal Reserve's increase in rates for the first time in nearly a decade.